6,710 Shares in Johnson & Johnson (NYSE:JNJ) Bought by MADDEN SECURITIES Corp

MADDEN SECURITIES Corp bought a new position in shares of Johnson & Johnson (NYSE:JNJ) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,710 shares of the company’s stock, valued at approximately $981,000.

A number of other hedge funds have also bought and sold shares of the company. Eagle Strategies LLC grew its position in shares of Johnson & Johnson by 1.8% during the 4th quarter. Eagle Strategies LLC now owns 3,589 shares of the company’s stock worth $563,000 after buying an additional 63 shares in the last quarter. Alliance Wealth Advisors LLC UT lifted its stake in shares of Johnson & Johnson by 1.4% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 4,714 shares of the company’s stock worth $739,000 after purchasing an additional 64 shares during the last quarter. Carolinas Wealth Consulting LLC lifted its stake in shares of Johnson & Johnson by 0.4% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 16,861 shares of the company’s stock worth $2,643,000 after purchasing an additional 64 shares during the last quarter. Adamsbrown Wealth Consultants LLC lifted its stake in shares of Johnson & Johnson by 2.3% during the 4th quarter. Adamsbrown Wealth Consultants LLC now owns 2,879 shares of the company’s stock worth $451,000 after purchasing an additional 65 shares during the last quarter. Finally, Verity Asset Management Inc. lifted its stake in shares of Johnson & Johnson by 2.0% during the 4th quarter. Verity Asset Management Inc. now owns 3,268 shares of the company’s stock worth $512,000 after purchasing an additional 65 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group decreased their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. TD Cowen decreased their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Monday. Finally, HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price target for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus price target of $173.21.

Johnson & Johnson Stock Performance

Johnson & Johnson stock traded up $1.32 during midday trading on Thursday, hitting $160.22. 5,050,546 shares of the company were exchanged, compared to its average volume of 7,372,660. The firm has a market capitalization of $385.60 billion, a PE ratio of 9.99, a price-to-earnings-growth ratio of 2.63 and a beta of 0.52. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97. The business has a fifty day simple moving average of $150.90 and a two-hundred day simple moving average of $153.16. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.71 by $0.11. The firm had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. Johnson & Johnson’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the company earned $2.80 earnings per share. On average, sell-side analysts forecast that Johnson & Johnson will post 10.07 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.10%. The ex-dividend date is Tuesday, August 27th. Johnson & Johnson’s payout ratio is currently 30.92%.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.